Download

HOUSTON--(BUSINESS WIRE)--Houston-based Leslie Doggett Industries, through its division the
Doggett Truck Group, announces the acquisition of 3 Freightliner and 1
Western Star Truck Dealership from the Opus Kane Truck Group and Eddy
Vaughn Freightliner. The transaction for San Antonio and Laredo (Opus
Kane) was finalized on December 16, 2013 while the transaction for
McAllen (Eddy Vaughn Freightliner) was finalized December 19, 2013.

Purchase price is estimated to be approximately $30 million.
Freightliner (a wholly owned Daimler-Benz Subsidiary) is the largest
worldwide and North American manufacturer of highway, vocational and
severe duty trucks with an overall 30+ percent market share of the Class
8 North American market in 2013.

These transactions lift Leslie Doggett Industry’s estimated annual
revenues above $700 million (for the first time exceeding $2.5
million in equipment sales and support services every business day) and
increase full-time employees to approximately 900.

“This acquisition complements Leslie Doggett’s existing John Deere
construction and forestry dealerships and our Toyota forklift business,
allowing contractors, manufacturers and distribution companies doing
business in South Texas to have a single provider of heavy equipment
services expanded to include heavy haul and highway trucks,” said Brian
McLemore, chief financial officer with Doggett. “With our team’s focus
on world-class support services, Doggett’s mission is to be the number 1
provider of heavy equipment services in all of its markets.”

Leslie Doggett Industries provides John Deere construction and forestry
products for Louisiana, east and southeast Texas, including all of the
Gulf Coast from New Orleans to Brownsville, Texas through 18 John Deere
dealerships. The company is the largest Toyota Industrial Equipment
dealer with distribution for southern Texas and Chihuahua, Mexico
through 8 Toyota Industrial full service and sales dealerships. Doggett
received Toyota’s highest honor (President’s Award) 6 out of the last 7
years culminating in Doggett’s Toyota Group achieving one of the highest
market share percentages in North America for Toyota.

These acquisitions by Doggett are the 18th and 19th
in the past 20 years. The purchase of South Texas Freightliner
dealerships follows Leslie Doggett’s acquisition of the Houston John
Deere Construction Equipment Business from Rush Enterprises (RUSH: NYC)
for $62 million in 2010 and 11 dealerships for $103 million from
Nortrax, company-owned stores operated by John Deere & Company
(NYSE:DE), in 2007.